Champlain College Incorporated EIN 03-0220266 Form 990 (PDF) Claim this org

Champlain College Incorporated

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Educates students through undergraduate and graduate degree programs. For fiscal year 2024 it reported $122.7M in revenue, $126.8M in expenses, and $134.9M in net assets.Pt I

Founded
1878
Type
Higher education institution · Colleges & Universities
Location
Burlington, VT
Website
www.champlain.edu
Filings
5 on file (2020–2024)
Revenue
$122.7MFY2024
Expenses
$126.8M
Net assets
$134.9M
People
50
Filings
5
Updates
0
More identity details & actions ⌄
EIN  03-0220266 Higher education institution Burlington, VT Founded 1878
Form 990 (PDF)
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Figures match the IRS filing checked 7/6/26 · see original: IRS
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Size
$100M+
What they do
Educates students through undergraduate and graduate degree programs.
Leadership
Alejandro E Hernandez · President · $465K
Money in and out
$122.7M revenue, $126.8M expenses
Bottom line
-3% operating surplus
Financial scale & money flow · FY2024
Total revenue
$122.7M
Pt VIII · Ln 12
Total expenses
$126.8M
Pt IX · Ln 25
Net assets
$134.9M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$4.2M
Where spending went · Part IX cols B–D
Program services $0.86 Management & general $0.12 Fundraising $0.01
Operating surplus
-3%
revenue over expenses, this legal entity▼ -753% vs prior filing year
Payroll share
37%
of this entity's spending is salaries & benefits▼ -6% vs prior filing year
Program spending
86%
of expenses reach program services▲ +1% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$122.7M
FY2024▼ -10%
Expenses
$126.8M
FY2024▼ -7%
Total assets
$213.8M
FY2024▼ -2%
Total liabilities
$78.9M
FY2024▼ -3%
Total revenue
$122.7M
Pt VIII · Ln 12
Total expenses
$126.8M
Pt IX · Ln 25
Net assets
$134.9M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$4.2M
Total assetsPt X · Ln 16$213.8M
Program-expense ratioPt IX · col B86%
Voting members of governing bodyPt I · Ln 330
Independent voting membersPt I · Ln 429

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CChamplain College Incorporated
EINHdr · item D03-0220266
Principal addressHdr · item CBurlington, VT
WebsiteHdr · item Jwww.champlain.edu
Year of formationHdr · item L1878
State of legal domicileHdr · item MVT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B420)
Ruling yearIRS BMFApr 1968

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a30
Independent voting membersPt VI · Ln 1b29
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$465,337Pt VII · Sec A
$299,663Pt VII · Sec A
Vice President
$269,409Pt VII · Sec A
Vice President
$263,026Pt VII · Sec A
Professor of Finance (thru 6/24)
$232,353Pt VII · Sec A
Prof. of HR Mgmt & Srvcs (thru 6/24)
$227,412Pt VII · Sec A
Prof. of Accounting (thru 6/24)
$211,719Pt VII · Sec A
Vice President
$195,736Pt VII · Sec A

Alejandro E Hernandez’s $465K as President is at the 33rd percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Benjamin Akande$734,521$268,007
Donald J Laackman$687,892
David Finney$270,822$497,419
Alejandro E Hernandez$465,337$446,273$322,007
Laurie Quinn$443,348$314,299
Paula Willoquet-Maricondi$352,534$169,176
Monique Taylor$299,663$299,475$294,713$134,338
Leslie Averill$269,409$269,413$272,084$243,180$107,778

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $109.7M of program spending, described in the organization's own filed words · FY2024.
01

See scheudle o.

$80.1Mprogram expense
02

See scheudle o.

$17.8Mprogram expense
03

See schedule o.

$11.7Mprogram expense

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Statement of Revenue

Part VIII
Program service revenue$109.8M · 90%
Contributions & grants$7.6M · 6%
Other revenue$3.2M · 3%
Investment income$2.1M · 2%
Program service revenue90%$109.8M
Contributions & grants6%$7.6M
Other revenue3%$3.2M
Investment income2%$2.1M
— government grantsLn 1e$6.3M
Total revenueLn 12$122.7M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.86 Management & general $0.12 Fundraising $0.01
Program services86%$109.7M
Management & general12%$15.4M
Fundraising1%$1.8M
Total functional expensesLn 25$126.8M

Balance Sheet

Part X · end of year
CashLn 1$8.0M
Total assetsLn 16$213.8M
Total liabilitiesLn 26$78.9M
Total net assetsLn 32$134.9M
Months of cash on handcomputed0.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $69.2M · Operating expenses (Pt IX) $126.8M · Less non-cash grants $123K · Cash operating expenses/yr $126.7M
6.6 months
Where the money goes
Program services
Program services $109.7M · Total expenses $126.8M
86%
Management & General
Management & general $15.4M · Total expenses $126.8M
12%
Fundraising
Fundraising $1.8M · Total expenses $126.8M
1%
Cost to raise $1
Fundraising expense (3-yr avg) $2.0M · Solicited contributions (3-yr avg) $5.5M
$0.37 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $7.6M · Total revenue $122.7M
6%
Government reliance
Government grants $6.3M · Total revenue $122.7M
5%
Earned-income share
Program service revenue $109.8M · Total revenue $122.7M
90%
Investment reliance
Investment income $2.1M · Total revenue $122.7M
+2%
Program self-sufficiency
Program service revenue $109.8M · Total expenses $126.8M
87%
Growth & trend
Revenue growth (YoY)
This year $122.7M · Prior year $136.2M
-10%
Revenue CAGR
FY2019 $123.9M · FY2024 $122.7M
-0.2%
Net-asset trend (YoY)
End of year $134.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $122.7M · Expenses $126.8M
-3%
Liabilities-to-Assets
Total liabilities — · Total assets $213.8M
Net-asset ratio
Net assets $134.9M · Total assets $213.8M
63%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $59.7M · Other securities (Pt X, ln 12) $1.5M · Total assets (Pt X, ln 16) $213.8M
29%
People & payroll
Highest Reported Total Compensation
Individual Alejandro E Hernandez · Reported title PRESIDENT · Highest reported compensation $465K · Total expenses $126.8M
0.4%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $46.5M · Total expenses $126.8M
37%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 86%
Overhead ratio 12%
Fundraising cost ratio 23%
Revenue growth -10%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$40K
Grants paid · 21 grants · $236.9M · 2019–2024
Unitemized GrantFY2024$38,298,939
Unitemized GrantFY2024$308,263
Unitemized GrantFY2023$41,601,596
Unitemized GrantFY2023$361,069
Unitemized GrantFY2023$73,800
Unitemized GrantFY2022$39,342,212
Unitemized GrantFY2022$308,263
Unitemized GrantFY2022$73,970
Unitemized GrantFY2021$37,084,147
Unitemized GrantFY2021$2,466,865
Unitemized GrantFY2021$322,676
Unitemized GrantFY2021$207,702
Unitemized GrantFY2020$36,994,025
Unitemized GrantFY2020$1,183,172
Unitemized GrantFY2020$522,255
Unitemized GrantFY2020$293,850
Unitemized GrantFY2019$36,554,646
Unitemized GrantFY2019$417,468
See all 21 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$136.2M revenue · ⤓ 990 PDF
FY2023$128.5M revenue · ⤓ 990 PDF
FY2022$127.0M revenue · ⤓ 990 PDF
FY2021$119.7M revenue · ⤓ 990 PDF
FY2020$123.9M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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